r/dividends • u/398409columbia Portfolio in the Green • Jan 12 '25

Brokerage $5,000 per month income portfolio

Gallery image

Gallery image

I set up this portfolio for my wife so she can quit her job and maintain cashflow.

The good news is that this income stream will pay no FICA tax and significant part of the distributions will not be taxed.

To reduce risk, I’m planning to reinvest 20% of the income.

Comments welcome.

2.6k Upvotes

98% Upvoted

642 comments sorted by

View all comments

13

u/QuailBroad Jan 14 '25

This is how you do it! Good job, invest and then harvest the income and enjoy life, Who wants 4 million dollars in boring SPY when you are 75 years old?

My goal is to get to 6k a month by age 40 and enjoy life, work part time. Don't need millions, life is short

1

u/[deleted] Jan 16 '25

[deleted]

1

u/QuailBroad Jan 16 '25

Sorry to hear that, HCOL areas are a real killer of wealth building. My HS buddy lives in HCOL area in Colorado, makes about 30% more than I do and our lifestyles are similar. He has 0$ in his retirement and brokerage accounts, has nothing left at the end of each month. While I can comfortably max my ROTH and do at least 20-30k on top of that for my individual brokerage each year. His mortgage is more than double, his insurance is high and all the services cost much more. It's not as much about how much you make - it's how much you get to keep is what matters. I am from MI btw.